Entergy Nuclear Vermont Yankee LLC has completed negotiations on a 20-year agreement to sell power from the 605 MW Vermont Yankee nuclear power plant to customers of Vermont Electric Co-op Inc.
The agreement is subject to approval by VEC's board of directors, and is contingent on the plant running after March 2012. In March 2011, the Nuclear Regulatory Commission renewed Vermont Yankee's operating license for an additional 20 years.
The power price for the first year of the contract is fixed and will be $49/MWh, which is below the current market. In subsequent years, pricing will be determined annually based on a predetermined formula designed to protect VEC from high market prices while also giving its members the opportunity to benefit from low market prices.
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